The Hampshire Companies, Claremont Development, and Circle Squared Alternative Investments announced the final stages of construction for RIVET 26, Jersey City’s newest luxury apartment development located at 26 University Place Boulevard at University Place in the city’s west end neighborhood. Pre-leasing for the community’s brand-new studio, one and two-bedroom residences is set to launch this May.
The completion of RIVET 26 will mark the next chapter in the ongoing creation of University Place, a master redevelopment plan designed to transform Jersey City’s emerging west end neighborhood into a vibrant live-work-play community. Developed in conjunction with New Jersey City University and Jersey City, University Place will include the construction of eight buildings, 1,000 new luxury rental residences and access to more than 120,000 square feet of retail, a performing arts center, cafes, theaters, and lush green space. Upon completion, RIVET 26 will join RIVET, a 163-unit luxury apartment building also completed by The Hampshire Companies, Claremont Development and Circle Squared Alternative Investments in 2019, as the next piece of the visionary mixed-use master plan to create Jersey City’s latest dynamic and walkable neighborhood.
“We have always taken great pride in our commitment to utilizing our deep experience in real estate investment to positively impact every community in which we work,” said James E. Hanson II, President and CEO of The Hampshire Companies. “As we near the completion of RIVET 26, we applaud the hard work of our team, project partners, NJCU and Jersey City in their ongoing efforts to bring our transformative vision for Jersey City’s west end neighborhood to life and we look forward to soon being able to welcome the building’s first residents this summer.”
Designed by project architect Netta Architects, RIVET 26 will bring 199 modern rental residences and 10,000 square feet of service-oriented ground level retail to the rapidly growing University Place community. With interior design being overseen by Interior Motives, RIVET 26’s 84 studio apartments, 102 one-bedroom, and 13 two-bedroom units echo the highest standards of urban living with spacious 9’6” ceilings, oversized windows, in-home washer and dryers, contemporary kitchens with stainless steel appliances, undermount sinks, quartz countertops, modern two-tone white and gray cabinetry, moveable kitchen islands and subway tile backsplashes. Select residences also offer private outdoor space, dens and double vanities.
Beyond the modern and well-appointed residences, the community’s wealth of lifestyle amenities have been designed to cater to its residents. Beginning with the community’s landscaped sun terrace, featuring an outdoor bar with firepits, turf lawn and lounge seating, and private BBQ and dining areas, residents will have no shortage of spaces to enjoy the summer and fall months ahead. Boasting a similarly expansive indoor amenity package, RIVET 26 features multiple entertainment lounges, a billiards room with a fireplace and bar, a coffee bar and a co-working lounge with private offices perfect for residents who are working remotely. The community’s commercial-grade fitness center also includes a dedicated yoga and spin studio with virtual training technology. Residents also enjoy peace of mind as the building boasts 24/7 onsite maintenance as well as a Butterfly MX virtual entry system, private resident storage and a package concierge. The pet-friendly community also features a pet spa for resident use.
In addition to its robust amenity package, residents can enjoy access to in-demand retail and entertainment options right outside their doors. RIVET’s 9,500 square feet of retail space is currently fully leased to five retailers providing a range of grocery, retail and dining options. The addition of 10,000 square feet of ground-level retail space at RIVET 26 will enhance the existing retail offerings at University Place and provide additional opportunities for exciting retail and entertainment businesses to become a part of the growing neighborhood.
Ideally situated in Jersey City’s newest emerging neighborhood, the residential community promises easy access to all that the Gold Coast and the New York City metro area have to offer. The site is located one-third of a mile from a Bergen Hudson Light Rail stop, providing access to the Hackensack River Waterfront and Hoboken as well as the opportunity to transfer to the PATH train for easy access to New York City. In addition to Bergen Hudson Light Rail accessibility, RIVET 26 will also offer a complimentary direct shuttle service to the Journal Square PATH Station, enhancing access to New York City. Two bike terminals, 155 structured parking spaces and street parking further complement the transportation options available for commuters.
NJCU President Sue Henderson added, “The opening of RIVET 26 is another compelling moment in time for Jersey City’s west end. NJUC is proud to be part of the dynamic partnership bringing University Place alive – a testament to our longstanding commitment to enhancing the educational, intellectual, cultural, socioeconomic, and physical aspects of our community. Residents of RIVET 26 will have the added benefit of access to all NJCU has to offer – from a robust offering of arts and cultural performances to New Jersey’s most affordable, forward-looking undergraduate and graduate degree programs, certificates, and stackable credentials. Come join us in Jersey City’s most exciting neighborhood.”
"We are thrilled to be opening RIVET 26 to complement our first community, RIVET,” remarked Jeff Bastow, Partner with Claremont Development. “This new building is truly differentiated in the level of finish as well as incorporating work-from-home elements into the communal space. We look forward to welcoming our first residents in coming months."
Jeff Sica, President and CEO of Circle Squared Alternative Investments stated, “We are proud to partner with Hampshire and Claremont on this next phase of Rivet. We remain committed to the University Place Redevelopment and NJCU which will continue to increase the university’s footprint and help revitalize the west side of Jersey City. This flourishing community is steadily emerging as a prime competitor in the NJ real estate market.”
Property management services for RIVET 26 will be exclusively provided by RHO Residential. For more information about joining the RIVET 26 community, please call 201-204-0500 or visit www.Rivet26.com.
For more information about available retail leasing opportunities, please contact Bobby Antonicello Jr of Grid Real Estate at (551) 795-2836.
About The Hampshire Companies
The Hampshire Companies is a full-service, private real estate firm based in Morristown, New Jersey. The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments. Additional information on The Hampshire Companies is available online at HampshireRE.com.
To stay connected with The Hampshire Companies and for updates on the latest transactions and news follow Hampshire on Facebook, Twitter and LinkedIn.
About Claremont Development
Claremont Development is a third generation, fully integrated principal development and general construction firm focused on transit-oriented and downtown urban multi-family/mixed-use projects throughout New Jersey and the Metropolitan Area. Claremont’s ability to leverage the synergies between its real estate development and general construction platforms translates to a streamlined process from site acquisition through entitlements and delivery. For more information on Claremont please visit https://claredev.com/.
About Circle Squared Alternative Investments
Circle Squared Alternative Investments is a firm devoted to uncovering alternative investment opportunities in real estate, private equity and private credit among others. In addition, the firm’s team will serve as coaches and mentors to financial advisors, helping them to better understand and communicate to their clients the role and advantages of alternative investments in a portfolio.
For more information about Circle Squared, visit www.circlesquaredalts.com.
About RHO
RHO Residential is a team of dedicated property management professionals leveraging decades of experience to see multi-family communities prosper. They pride themselves in their personalized approach and local market expertise to positively impact their clients and residents. Services include but are not limited to multi-family property management, marketing and communications, lease-ups and transitions, and advisory services. RHO Residential strives to operate efficiently and effectively, yet always being hyper-focused on creating and sustaining engaging communities.
Media Contact:
Dan Johnson
R&J Strategic Communications
908-895-0785
djohnson@randjsc.com